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Iowa Code § 633A.2206

Reformation — tax objectives

Known as the Iowa Trust Code

The act spans §§ 633A.1101 to 633A.6308 (136 sections).

2002 Acts, ch 1107, §5; 2005 Acts, ch 38, §54

1. The court may reform the terms of the trust, even if unambiguous, to conform to the settlor’s intent if it is proved by clear and convincing evidence that the settlor’s intent and the terms of the trust were affected by a mistake of fact or law whether expressed or induced.

2. The terms of the trust may be construed or modified, in a manner that does not violate the settlor’s probable intent, to achieve the settlor’s tax objectives.

99 Acts, ch 125, §19, 109

C2001, §633.2206

CS2005, §633A.2206

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.